Mortgage relief scams target those already in dire straits - WAFF-TV: News, Weather and Sports for Huntsville, AL

Mortgage relief scams target those already in dire straits

Relief scams target those already in an uncomfortable financial situation. (Source: MGN Online) Relief scams target those already in an uncomfortable financial situation. (Source: MGN Online)
HUNTSVILLE, AL (WAFF) -

Your home - it's your pride and joy, your safe haven. In most cases, it is also the most important and expensive purchase you will ever make.

So most homeowners facing possible foreclosure would do everything within their power to save their home. While there are legitimate companies that offer real relief, mortgage relief scams target people who are already in financial distress often inflicting even more harm .

"You get a notification that they can help you with your mortgage. Especially someone who is getting ready to face foreclosure," explained Michele Mason with the Better Business Bureau.

The company makes the promise that they can help you renegotiate your loan and the payment. They will even offer to make payments for you so you won't face foreclosure.

"But instead you pay them money that never gets paid to the mortgage company, and so you do find yourself in foreclosure," Mason continued.

Some of the companies even charge an upfront fee and make empty promises that are never fulfilled.

"It's really sad because this scam directly targets people are already in dire financial straits," Mason said.

Recently the Federal Trade Commission took action against some of these so-called mortgage relief companies and counseling services for unscrupulous practices.

You should take the time to check out these companies with the BBB before turning over any money to them with the promise that they are going to help you save your home.

To file a complaint, contact the FTC - you can do so online.

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